Apartment Loans Detroit, MI
National Non-Bank Private Lender. Great Rates. Fast Closings. Speak with a Local Lender.
LendingOne – Best Apartment Loans Near Detroit
LendingOne is an Detroit private money lender offering short-term mortgage loans to real estate investors in Ann Arbor, Detroit, Grand Rapids, Lansing, Sterling Heights, Warren. Get a private money loan for a property purchase, refinance, equity cash out, rehab or new construction purchase.
Apartment Loans
Up to 80% for the purchase amount and up to 100% of repair costs
LendingOne Apartment Loans can provide the cash you need to grow your real estate investment property portfolio:
Reliable source of financing for apartments of 5 units or more
Flexibility and capital to take your value-add projects to the next level
Advantages of our Apartment Loans in Detroit
Loan amounts from $500K to $25M
No interest on unused construction funds
Up to 85% LTC
Closings in as little as 20 business days
No DSCR minimum required at purchase
Ready to get started with an apartment lender that knows the Detroit market?
Choose which loan you’re interested in for your Detroit Apartment Property or speak to an expert today by calling 866-918-1974
Detroit Apartment Real Estate Market
Median Listing Prices for Apartment Properties in Detroit, MI
Real estate investors looking to purchase or sell Apartment properties in Detroit, MI should consider analyzing the median listing prices of homes in the area. This allows investors to calculate whether there is enough margin for profit once all purchase costs and necessary repairs have been totaled before either selling the property again or holding it as a long-term rental investment. Rising prices in Detroit, MI can indicate it is a seller’s market where demand for properties is high enough that sellers can increase their asking prices on Apartment properties, and successfully close with that asking price. Alternatively, a market where prices have decreased could indicate a buyer’s market.
Median Inventory Data for Apartment Properties Detroit, MI
The number of properties available on the market in Detroit, MI is another great indicator of that area’s popularity and potential profitability. Usually, minimal inventory means demand is high for that area. If properties are not vacant for long, there is probably a reason why people want to live there and Apartment investors should take note of these factors when deciding if they should purchase a property in Detroit, MI.
Average Days on the Market for Apartments in Detroit, MI
The length of time a property sits on the market can help Apartment investors understand the supply and demand in Detroit, MI. Shorter days on the market mean people are buying up or renting out homes at a faster rate. Alternatively, properties sitting vacant for longer periods of time can either mean asking prices are too high in Detroit, MI, or there may be reasons why the area is not attracting enough buyers or renters interested in living there.
Driving Factors for the Detroit Real Estate Market
Education: Detroit is home to one of the highest educated workforces in the country, greatly due in part to the surrounding top ranking schools in the Detroit, MI area.
Economy: Detroit‘s top employers are driving growth in the real estate market including General Hospital.
Businesses: According to the Detroit Chamber of Commerce, Leisure & Hospitality, Professional & Business Services, and Education & Health Services have seen high job and wage growth.